Clarity Act countdown: Senate agenda skips the bill, Giancarlo warns

Chris Giancarlo, former Chairman of the CTC, warned that the legislative process in the digital asset market, Clarity Act, was facing challenges. Although encryption advocates continued to push for the bill, Giancarlo stated that the industry should not regard legislation as an all-or-nothing moment. He stressed that the innovation of the block chain would continue, regardless of the fate of the bill. The Senate agenda did not refer to CLARITY Act, replacing it with an expenditure bill limited to H.R. 6500. As the recess on 10 August approached, the Senate leaders were under pressure to identify legislative tools, submit procedural motions or reach bipartisan agreements to advance the progress of the CIATY Act before the recess。